Bitcoin is pacing toward a sixth straight weekly drop, mimicking the downward streak seen in the first quarter, during which prices found a floor near $60,000. The all-time record stands at nine weeks, established back in 2022. Currently, Bitcoin has retreated 11% for November, 17% during the fourth quarter, and 21% overall through 2026.
Among the most anticipated upcoming market milestones is Anthropic’s impending public offering. Bloomberg noted that the stock offering has drawn demand equal to roughly six times the total share supply. The artificial intelligence firm is seeking to secure up to $64.4 billion, accompanied by a $26 billion private placement, which aims for a fully diluted valuation near $1.4 trillion. Nvidia has pledged about $10 billion toward the private placement. By October’s close, Anthropic’s annualized revenue run rate hit $81 billion—a $10 billion jump in just one month—and its shares are scheduled to list on the Nasdaq using the ticker ANT.
The likelihood of market participants liquidating assets to secure liquidity for a landmark listing provides one plausible rationale for the ongoing crypto sell-off. Clear similarities exist with the period preceding SpaceX’s public debut. That enterprise officially went public on June 12. Earlier that month, Bitcoin plummeted roughly 20%, sliding from approximately $75,000 down to $60,000 between June 1 and June 5, prior to recovering toward $68,000 subsequent to the offering’s rollout.
Additional pressures contributing to the market drop encompass Jensen Huang’s departure as CEO of Nvidia alongside rising anticipation that the Federal Reserve will implement a 25-basis-point interest rate hike during its gathering on Dec. 9.
Originally published at https://www.coindesk.com/markets/2026/11/13/bitcoin-heads-for-sixth-weekly-loss-as-anthropic-s-blockbuster-ipo-looms.
